Starkware Temporarily Locks Users Out of Outdated Wallets, Reopens Access
Starkware, the decentralized layer-2 network for scaling Ethereum transactions, recently locked users out of their outdated wallets, causing them to lose access to $550,000 worth of their funds. The company had urged users to upgrade to the latest smart contracts by August 21, but those who failed to do so had their accounts rendered unusable. Starknet has now reenabled the upgrade, allowing users to regain access to their accounts. However, users of Argent and Braavos may experience a delay in regaining access due to technical reasons.
Key points:
– Starkware temporarily locked users out of their outdated wallets, causing them to lose access to $550,000 worth of their funds.
– Users who failed to upgrade to Starknet’s latest smart contracts by August 21 had their accounts rendered unusable.
– Access to the upgraded wallets has been reenabled, except for users of Argent and Braavos who may experience a delay in regaining access.
– Starkware and Argent had warned users about the upgrade for months and encouraged them to save their funds across various social channels.
– Over $78 million in assets are locked within Starknet accounts, with $546,000 in “out of date” accounts.
Hot Take
While Starkware’s decision to lock users out of their outdated wallets may have been an inconvenience, it highlights the importance of staying up to date with technology upgrades in the crypto space. Users should always heed the warnings and recommendations of wallet providers to ensure the security and accessibility of their funds. However, alternative methods that don’t result in fund loss should be considered for future upgrades to avoid such inconveniences for users.
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